The paper focuses on the role of consumer confidence and selected well-being measures in aggregate consumption and in subsets of aggregate consumption on a broad set of 22 OECD countries. Consumer confidence played a positive and statistically significant role in the development of expenditures especially on durable and semi-durable goods and services. The increase in cognitive, affective and eudaimonic measures of well-being, measured by the Cantril ladder, positive and negative affect and freedom to make life choices variables, had negative impact on total consumption and expenditures on semi-durable goods and services. Possible explanations for these estimates are provided in the paper. Based on the purpose of expenditure, consumer confidence was a significant determinant of all expenditures except for unavoidable spending such as food, health, housing, water, energy, and fuel. The subjective well-being indicators showed a negative impact on expenditures on clothing and footwear, recreation and culture, and restaurants and hotels. Possible explanations for the positive and negative effects of subjective well-being measures on consumption, benefits of including the freedom of choice variable, and directions for future research regarding the introduction of understudied variables are discussed.

本文侧重于消费者信心和选定的福祉衡量指标在 22 个经合组织国家的总消费和总消费子集中的作用。消费者信心在支出的发展中发挥了积极的和统计上显着的作用，尤其是在耐用和半耐用商品和服务方面。通过 Cantril 阶梯、积极和消极影响以及选择生活变量的自由来衡量的认知、情感和幸福感指标的增加对半耐用品和服务的总消费和支出产生了负面影响。本文提供了对这些估计的可能解释。根据支出的目的，消费者信心是所有支出的重要决定因素，除了不可避免的支出，如食品、健康、住房、水、能源和燃料。主观幸福感指标对服装和鞋类、娱乐和文化以及餐馆和酒店的支出产生负面影响。讨论了主观幸福感测量对消费的积极和消极影响的可能解释，包括选择自由变量的好处，以及关于引入未充分研究的变量的未来研究方向。